Acquisition of interest in shares
104D Acquisition of interest in shares
(1) For this Part, the acquisition of an interest in shares in a corporation holding a permit or licence includes:
(a) the allotment or issue of a share, not being the issue of a share to a member on registration of the corporation as a corporation; and
(b) the acquisition of the legal title in a share by purchase or transfer; and
(c) the redemption, surrender or cancellation of a share; and
(d) the variation, abrogation or alteration of a right pertaining to a share; and
a declaration of trust over shares; and
(f) if shares are held subject to a discretionary trust – the addition of a beneficiary or class of beneficiaries to the existing beneficiaries under the trust; and
(g) if shares are held subject to a discretionary trust – a change in control of a corporate beneficiary under the trust and a change in control of the trust if both changes:
occur within a 12 month period; and
(ii) arise from (or substantially from) one transaction or one series of transactions; and
a statutory vesting of shares; and
a vesting of shares through a merger.
(2) Despite subsection (1), an acquisition of an interest in shares in a corporation holding a permit or licence does not include an acquisition:
that occurs as the result of the appointment of:
a receiver or trustee in bankruptcy; or
a liquidator; or
(b) that is declared not to constitute an acquisition by the regulations.
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